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20130206
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everyone. i'm susie gharib. the economy is barely growing, so the federal reserve says it will keep buying bonds to stimulate growth, and create more jobs. >> tom: i'm tom hudson. facebook's latest earnings beat the street, but while the company saw big gains in mobile ad sales, it's costs also shot up. >> susie: and rim, rolls out the new blackberry 10, a new name, and a new ticker symbol, we look at what's riding on all those bold moves. >> tom: that and more tonight on "n.b.r."! >> susie: the federal reserve said the economy "paused" in recent months, so it's keeping its key interest rate near zero. the decision from policymakers today came on a day of mixed reports about the u.s. economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economists expected. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy statement today that it continues to see "downside risk
technology. >>> policymakers in the united states feel their economy still need their help. what can you tell us? >> i've been reading through the stam and they feel there's been a pause in the u.s. economy and they're not yet confidence about the job situation. they want to see a lower unemployment rate. they will continue their current ease to support the economy. the u.s. federal reserve made the decision at a two-day meeting of it federal open market committee that ended wednesday. the policymakers said in a statement that growth and economic activity had paused in recent months. this was despite improvements in the housing market, personal spending and business the deraserve attributed the slow down to a high jobless rate and the effects of hurricane sandy which hit the u.s. east coast last year. the fed said it will continue buying mortgage backed securities and treasury bonds worth $85 billion a month. the key interest rate will be kept at virtually zero as long as the unemployment rate stays above 6.5%. the u.s. jobless rate stood at 7.8% in december. the u.s. economy shrank in the fi
, it was still a healthy number that should continue to help the economy. >> reporter: the main reason for optimism: those positive revisions to november and december jobs data. it turns out, the government underestimated how many positions were added by 127,000. it was that miscounthat helped push the dow over 14,000 for the first time in more than five years. and, at 14,000 the blue-chip index is about 150 to 200 points away from its all-time high. market pros like wayne kaufman predict new highs for stocks in coming weeks. >> many investors, retail investors, individual investors are reaching the point of recognition where they no longer believe the economy is going to collapse again, or that the stock market is going to collapse again. >> reporter: surely, an improving job market will keep investors jazzed about stocks. to that end, economists expect employers to continue adding about 150,000 jobs a month this year and the unemployment rate to inch lower. >> i think by the end of the year we're probably going to be looking at unemployment rate of 7.5% to 7.4%. certainly not low eno
and fives, i think it's going to cause... have many negative effects on the economy. >> reporter: however, if mortgage rates only move up slightly, that's likely to bring more buyers into the market. that's because many people have been waiting on the sidelines for a signal the housing market has bottomed. suzanne pratt, "n.b.r.," new york. >> tom: as home prices have risen, so have the stock prices of many home builders, with the stock prices more vulnerable than the housing market. the yellow line, the year-over-year changes in home prices. the blue line, the home builders' stomach exchange traded fund. they move higher before home prices do, and move lower before the prices crack. megan mcgrath is with us tonight. you've looked at this relationship between the actual price of homes and the home building stocks. what does the rally in home building stocks tell you today about home prices in the month ahead. >> it is certainly telling us investors are expecting prices to continue to go up, and to go up quite a bit. prices as well as volume. there is a relationship there, too. we heard so
was part byhe ft tha it was a rigged election, an illegitimate economy. the clip i wanted you to show was the one in which he said, he was asked about the policy of containment. it was not a bad during issue. he says, yes, i support the administration's policy of containment. he then gets a note that says, i have been told that i made a mistake. of course i am not in support of that. a policy of this administration on containment is that it does t have a policy of containment. at whi poi democratic senator levin had to rescue him and said, in fact, the administration has a policy of containment, and it is to oppose it. he was clueless. >> colby? >> he was in the position where he had to dodge a little bit. let's go back to the exchange with senator mccain on the surge. the issue was never the surge when you talk about iraq. the issue, as senator nelson from florida said, going into iraq because we thought there were weapons of mass destruction. we end up with 4000 americans dead, $1.90 trillion from the war, and you tell me the issue is the surge? the issue was going into that country
and cuts in defense spending. did not announce any new action to stimulate the economy. wall street reacted by giving up some of its recent gains. the dow jones industrial average lost 44 points to close at 13,910. the nasdaq fell 11 points to close at 3,142. those are some of the day's major stories. now, back to jeff. >> brown: whither the economy? that's been the question for quite a while now. today, there was a surprising and perhaps confusing new twist. the commerce department reported that gross domestic product actually shrank in the last quarter of 2012. thdrop was small, one tenth of a percent. but it was still the first time economic output had fallen in three and a half years. government spending dropped, most dramatically in the defense sector. the report, though, also contained some positive developments: consumer spending and business investment were both up. and yesterday, the so-called case-shiller index found that housing prices grew in 20 major cities by an average of 5.5% over the previous year. it was the biggest gain in six years. we talk it through, with joel naroff,
want the sequester actually to go forward which would put the breaks on the economy at least to an extent and drive more people back into bonds. >> reporter: others say any return to bonds may be short- lived, as the u.s. economy is showing new signs of strength. >> i think we expect more improvements, moderate improvements. but, you know overall that's usually a cause or thought that rates could go higher. and, in that regard it's probably not a market that will have the same sort of returns that we've seen over the past two years. >> reporter: so, it seems most agreehe bond market i unlikely to be a cash cow for investors going forward. at the same time, however, worries about a bond market bubble seem unfounded. suzanne pratt, "nightly business report." >> susie: immigration reform takes center stage this week. a group of senate democrats and republicans agreed today on what they called a framework for comprehensive immigration reform. tomorrow, president obama heads to las vegas to give a policy speech on immigration. with washington focused on immigration, citizenship fo
the economy, and worries about tomorrow's important jobs report. jobless claims rose by 38,000, more than expected. consumer spending rose slightly in december, as personal income climbed 2.6%, the highest increase in eight years, on this last trading day of january, the dow lost almost 50 points, the nasd was unchanged, and the s&p fell about four points. despite the sell off today, january was a strong month for stocks. the dow surged 6%, its best january since 1994. a 4% gain on the nasdaq, and the s&p jumped 5%. on wall street, they say a big january for stocks usually means a big year as well, it's called the "january barometer." if stocks follow history, they could be up by 20% or more. will that hold true in 2013? joining us with his thoughts on that, scott wren, senior equity strategist, wells fargo advisors. so scott, are you changing any of your forecasts for this year based on this strong january? >> well, susie, really january has been stronger than what we thought. we've had a 15, 25, year entarget out there for the s&p 500. and we're certainly reassessing that. we want to lo
of fear about inflation. specifically, they worry the federal reserve's efforts to boost the economy will devalue the dollar, so they want to own alternative currencies. but silver doesn't just benefit from safe-haven buying, it's also an industrial commodity. it's used in automobile manufacturing. and many automakers are forecasting increased global demand for new cars and trucks. the big question, of course, is where silver heads from here. from 2001 to 2010, silver moved frombout $4 an oun to $2 but in 2011, prices peaked at nearly $50, but then pulled back. according to a recent survey, precious metals experts think silver will average around 40 dollars an ounce this year, a gain of over 30% from 2012. so what could derail the silver rally? >> silver has been kind of trading between this 28 and 32 level for some time now. and, i think if you find that there is a raise in interest rates to curb inflation, i think you are going to find that's very bearish for silver. >> reporter: another risk is a big rally in the stock market. if investors get more comfortable with risk, they may
plans to maintain the philips brand and expand sales to emerging economies in asia and south america. >>> one of japan's major oil wholesalers will join forces with a canadian gas firm. idemitsu-kosan announced it will build a liquefied natural gas plant in canada with altagas. executives at idemitsu said tuesday the two firms agreed to form a joint venture. the new plant will be built on the west coast of canada. they plan to start shipping 2 million tons of lng annually to japan and other countries as early as in 2017. the executives say the lng will have a price advantage as it will be produced at canadian market prices. shipping costs will be lower because of geographical closeness compared with sourcing from the middle east and the u.s. east coast. demand for lng has bn rising in japan since the nuclear accident in fukushima. that's because it's the main fuel used for thermal power generation. >>> let's get a check on market prices now. tokyo stock prices are trading higher. an overnight rise in new york is raising expectations for a u.s. economic recovery. the nikkei average at
newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and. >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: former u.s. senator chuck hagel faced a hostile reception today from half of the committee that must sign off before he can become secretary of defense. his senate confirmation hearing centered heavily on criticism from his one-time republican colleagues. the atmosphere was friendly enough at the outset as chuck hagel began his big day before the armed services committee. he quickly sought to allay concerns on both sides about his positions on everything from iran to israel to nuclear weapons. >> no one individual vote, no one individual quote, no one individual statement defines me, my beliefs, o
it. >> so much for that election day euphoria... >> the economy has now lost 650,000 jobs just in the past three months... >> all eyes are now on barack obama to turn it around... >> narrator: the cascade of bad news began with the economy. >> fear swept through the markets... >> he had to start thinking about this the day after he was elected. >> this was the most eventful and consequential presidential transition in american history. >> we were all worried about what we were seeing. we knew that the credit system was pretty quicklyeaded tords somethg that looked a lot like seizure. >> narrator: the president-elect was told that in the two months since lehman brothers crashed, the panic on wall street had only gotten worse. >> what we were facing was something that, really, he had never contemplated, never experienced. >> narrator: unemploymenwas nearly seven percent and climbing. the stock market was down more than 6,000 points. >> there was a growing sense of calamity. this could be the most climactic economic crisis in all of american history, that we were thatlose to a com
have cooled. all of this with a troubled economy at home and calls for a lighter footprint abroad. i'm pleased to have tom donilon back at this table. welcome. >> thank you, charlie. >> rose: we are now into a second term. what do we mean by lighter footprint? >> well, if we step back on that, at the beginning of 2012, the president after a multimonth review, close consultation with the uniformed military, the joint chief, service secretaries and combatant commanders around the world put together a new defense strategy. that defense strategy had to take into account that the budget control act required the defense budget over ot next ten years to be reduced by $500 million or so, a little less than that. and which would require a 5% decrease over what were the plans. and in doing that the president asked the military to think about what the new challenges were going to be. what were the real challenges we were going to face. and that defense strategy was comprehensive. and it had various pieces to it that we would look to agile forces, that we would look to having a global footprint.
: the industry is one of the main engines for the taiwanese economy. companies focus on speed. this manufacturer is trying to develop a digital camera, originally created in japan. now, taiwanese firms have gained the know-how to make those products on consignment. the facility allows mass production. they also need to be flexible to meet the market needs of their clients. >> translator: the top priority is speed. speed can help develop technology, and it can also help us take the lead in the market. >> translator: to speed up work, this company delegates more authority to project managers. >> translator: we are already negotiating inspection methods with a japanese firm. the decision will be made soon. >> reporter: the maker plans to regain full-fledged production in the first half of this year. >> translator: we'll shorten the time to get the parts we need by making them inside our group. this should enable us to manufacture products two to four months faster than japanese makers. >> reporter: authorities at such firms are pressing a priority on speed. this research institute acquired many new
we define growth which is causing very serious problems. the globalization of the economy which i believe has created a new entity that i call earth inc. where factories, where large corporations have virtual factories that span the globe. and they have a new relationship to labor, capital, natural resources, nation states, it's a completely new reality. and these and other-- including the rise of china, other emergent centers of power, the roll of the u.s. changing, something we need to address as americans, and i set out to try to discover how these multiple revolutionary changes are interrelating one to the other and what choices they pose to us. how we really have to get involved in steering our way into the future, and choosing options tt n keit better than it otherwise might be. >> in order to take advantage of all these forces, though, you also suggest that democracy in part has been hijacked, that washington has become dysfunctional. >> yeah. >> and that threatens our ability to use all the tools. >> absolutely. we have two macro tools to use in shaping our future, roughly
always did that. but the whole damn economy was based on throwing parties. and now we've got a real economy with young people knowing that they have jobs. >> rose: and young people coming in because of the way of living and because the world is obviously as tom friedman said flat. so time and distance are shorter and all that. >> and why t li here. yesterday,onday morning i flew to new york. my plane was late because it was raining, and snowing on the ground at laguardia. i left, it was just a gorgeous day like this i was almost crying in my driveway as i got to the car to go to new york, because it was such a beautiful day here, why leave. >> rose: we continue this evening with the mayor of new orleans, mitch landrieu. >> it was a tragic moment in that building just outside of our window that had 13,000 american citizens in it. it had the roof peeling off of it. and it was just a bad time. and since that time the people of new orleans did mething that i think is pretty miraculous. they didn't accept the fact that the city was going to continue dying. in fact, katrina and rita didn'
. >> sreenivasan: the u.s. economy grew in january, but not enough to slow down unemployment. u.s. employers added 157,000 jobs last month, but the unemploymt rate still ticd up to 7.9%, showing job availability isn't keeping pace with the number of people who want to work. the labor department figures also painted a better picture for hiring at the end of 2012. white house press secretary jay carney welcomed that news, but said it was not good enough. >> we still have work to do and we need to make sure that when we device economic policies and we negotiate with congress on how to move forward, that we cannot neglect the essential responsibility to insurance that the picie we pn place promote job creation, promote economic growth. >> sreenivasan: on wall street, the jobs numbers pushed the dow jones industrial average above 14,000, a level it hasn't reached since 2007. the dow was up 149 points to close above 14,009. the nasdaq rose 37 points to close at 3,179. for the week, the dow gained three-quarters of a percent, and so did the nasdaq. the obama administration announced new rules today for c
to emerging markets and natural resources but japan's sluggish economy forced its leaders to cut oda. they slashed it to less than half of what it was at its peak in the 1990s. however, they're determined to maintain a presence so they've come up with a new strategy. nhk world explains. >> reporter: senegal, western africa. for years, a japanese government agency called the japan international cooperation agency, has provided aid to the country. last year in this village, japan installed a system to purify water. the program helped. the system uses water. even though this is a project, a private company does the filtering free of charge. >> tasty. >> translator: now we don't get sick after drinking water. >> reporter: at the moment, the group is working on the aid project with private companies. until recently, the agency planned the projects. then it commissioned private companies to carry them out. but the japanese government pays the bill. under the new system, it's the company that does all the planning. jica pays up to $560,000 in research fees. the other company pace the costs.
there have confirmed that there is expected to see a net gain to our economy from a legalization program, but the most important thing... >> the c.b.o. score... ifill: just allow her to finish. i'll be right back with you >> but the most important thing to also take into account is that over the past four years, 1.6 million immigrants have been deported. just last year at a cost of $18 illion. i think what we need really an immigration system for the 21st century. i know mr. kobach wants to keep promoting anti-immigrant laws. and in many ways is opposed to illegal immigration but we need a system that works >> i think that last characterization was completely inaccurate. i and many other americans who favor the rule of law are very much in favor of legal immigration. we are a country based on the rule of law but illegal immigration does no good for our economy. in terms of those costs the c.b.o. numbers don't take into count thse...he medicaid medicare and all the other welfare program costs in the out years. it is a huge huge drag on our fiscal situation if we basically give access to a
generous than we are? >> well, wit the u.s. aid budget is not nearly as big as a partiage of our economy. it's about .2% compared to germany and france are double that, and the really generous gives are above .7. they're over three times, that people like swooden and norway. you could say your defense budget and aid budget, add those together, that's your international engagement. because we have by far the world's biggest defense budget and we have the biggest international engagement budget. the europeans choose to balance their international engagement into vaccines and aids drugs and things like that. so they're less about-- they're more about getting people lifted up so they can be self-sufficient. >> rose: you get a lecture last week, yesterday-- >> yes, yes. >> endowed by some journalists at the bbc, and what's interesting about it to me is you sailed three things. three convictions. the first was-- your work had given you three convictions. one-- i want you to elaborate on this-- when had gone improves life improves because disease and bad help insinuates itself into every aspect
that happen in eroding trust and really hurting the economy are legal. this is legal. what amgen did now is legal. should it be? is it ethical? is it the right thing for the country? absolutely not. but they literally accomplished in the back room, with their access to important people, what they could never have accomplished on the floor of the house or on the floor of the senate. >> congressman, people out there -- you're right, people out there are disgusted. but they're also despairing. they've seen this time and again. we report on it. they see it. they get angry. and then nothing happens. >> wel that's right. and that's why i'm so glad that congressman hanna, we've got a bipartisan bill here. >> republican. >> a republican, a very good member from new york. and there's a lot of us who really take seriously that we've got two jobs. one is to try to make good decisions on policy that are going to get america going again, but the other, and each of us with a vote has this job, is to try to restore trust in the institution. and that means that when there is this kind of egregious rip o
newshour has been provided by moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: for the first time in years, there was serious talk today of getting congress to act on immigration. senators from both sides of the aisle joined to offer propos manies and said they'll work to get them passed by summer. >> we are dealing with 11 million human beings who are here undocumented, the vast and enormous majority of whom have come here in pursuit of what all of us would recognize as the american dream. that's what we endeavor to move forward here on. >> ifill: that announcement today moved immigration reform to the front burner in congress. eight senators, four democrats and four republi
provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> ifill: president obama made his first second-term foray outside washington today, with a call to stop gun violence. it was part of a campaign-style effort designed to goad congress into action. >> we don't have to agree on everything to agree it's time to do something. >> ifill: the president took that message to minneapolis, a city that's already imposed stricter background checks on gun buyers. the white house plan calls for those checks, a renewed ban on assault-style weapons and limits on high-capacity magazines for ammunition. >> the only way we can reduce gun violence in this country is if the american people decide it's i
that prosecuting the banks would do even more damage to the american economy. >> it was a definite sense that justice backed off. >> did the government fail? >> a number of people told us that you didn't make this a top priority. >> well, i'm sorry that they think that because i made it an incredibly top priority. >> that's lanny breuer, the assistant attorney general in charge of the iminal division theusti deptmen a week after the frontline report, he stepped down and is now expected to return to private corporate practice, one more government appointee spinning through the lucrative revolving door between washington and wall street. that door could be a big reason why government treats the banks with kid gloves. a man who once worked for citigroup, jack lew, the president's chief of staff, has been picked to be the new treasury secretary. and mary jo white, the newly named head of the securities and exchange commission, is a chief litigator at a top law firm representing big investment banks like morgan stanley. with all this happening, it's time to talk with journalist matt taibbi. y
Search Results 0 to 28 of about 29 (some duplicates have been removed)